Siemens, Associated British Ports in Wind Turbine Investment

   By Nicholas Winning 
 

LONDON--Siemens AG (SI, SIE.XE) and Associated British Ports are investing GBP310 million ($511 million) in wind turbine production and installation facilities in the northeast of England that would create up to 1,000 jobs, the Munich-based company said on Tuesday.

Siemens will invest GBP160 million in the Green Port Hull construction, assembly and service facility and a rotor-blade manufacturing facility in nearby Paull, in East Riding, it said. Associated British Ports will be investing an additional GBP150 million in the Green Port Hull development, Siemens said.

"We invest in markets with reliable conditions that can ensure that factories can work to capacity," Michael Suess, a member of the managing board of Siemens and CEO of the energy sector, said in a statement. "The British energy policy creates a favorable framework for the expansion of offshore wind energy."

Green Port Hull is planned to be operational in early 2016. The start of production at the blade factory is scheduled for the middle of 2016, with full production levels reached from mid-2017 onwards, Siemens said.

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